(Updated with Turkish official reaction)
ISTANBUL, June 14 (Reuters). Moody's lowered Turkey's sovereign rating on Friday and pushed it down somewhat in the category of so-called speculative securities ("junk"), a decision challenged by Ankara.
The Turkish score is reduced to "B1" against "Ba3" and his perspective remains negative, which implies that additional subsidence is possible. Moody's lowered it from "Ba2" to "Ba3" in August of last year.
The agency said in a statement that its confidence in Ankara's ability to continue to raise the necessary capital to ensure its annual debt service and support its growth is declining.
Turkey is "still very vulnerable to persistently high economic and financial volatility" and expects a further decline in already weak foreign exchange reserves over the next two years.
The Ministry of Finance and the Turkish Ministry of Finance responded quickly by stating that Moody's decision was not justified by the economic indicators and therefore raised questions about the objectivity and impartiality of the Institute's analyzes. ".
Daren Butler and Tuvan Gumrukcu;
Marc Angrand for the French service